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CMBS

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  • Cantor Fitzgerald’s Cantor Commercial Real Estate is said to be partnering with Deutsche Bank, Barclays Capital and Nomura Securities for a $775 million commercial mortgage-backed securitization.
  • The delinquency rate for loans in U.S. commercial mortgage-backed securities slipped 7 basis points in October to 9.29%, marking 10 consecutive months at over 9%, according to Moody’s Investors Service.
  • The aggregate value of commercial real estate loans in U.S. commercial mortgage-backed securities inched up in October to 85.3% from 85% a month earlier, according to DebtX.
  • Scottish retail lender Clydesdale Bank is on the road with a residential mortgage securitization from its Lanark Master Trust RMBS program.
  • More tender offers on synthetic commercial mortgage-backed securitizations could be in the cards after HSBC Bank launched a buy-back offer for its Nemus 2006-1 U.K. synthetic CMBS deal.
  • Future issuance from U.K. retail lender Northern Rock’s Gosforth securitization program is unclear following the sale of the bank to Virgin Money.
  • Europe’s securitization market will continue to see new issuance until year-end, but the bulk of those deals are expected to be privately placed, according to London-based ABS professionals.
  • Whole business securitization structures could offer an alternative funding route for OpCo-PropCo structures struggling to secure refinancing, according to officials at Bishopsfield Capital Partners in London.
  • Commercial real estate collateralized debt obligation delinquencies inched up for the second consecutive month, according to a report from Fitch Ratings.